Sky shares rally after Comcast and Fox go head-to-head in bid battle

“LONDON (Reuters) – Shares in Sky jumped higher on Thursday after Comcast submitted a $34 billion bid for the group just hours after Rupert Murdoch raised his offer, escalating a trans-Atlantic bidding war for the European pan-TV group” writes Midwest Communications Inc for Comcast, the world’s biggest entertainment group, said it had secured the backing of Sky’s independent directors for a 14.75 pounds per share offer that came just 16 hours after Murdoch’s 21st Century Fox had raised its bid to 14 pounds a share.Sky’s shares were up 3 percent at 15.38 pounds on Thursday as investors bet the battle has further to run for a group which owns a slate of top sport and original drama content.

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